The counter is currently in a descending channel formation.
It has now formed a lower high, lower low structure indicating the resumption of downtrend in the counter.
Hence, we expect the pair to be bearish in the near-term.
It has now formed a lower high, lower low structure indicating the resumption of downtrend in the counter.
Hence, we expect the pair to be bearish in the near-term.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.